Additionally, bankruptcy filers in African-American communities are more than twice as likely as filers in predominantly white communities to choose Chapter 13 bankruptcy. The report concludes with recommendations to improve economic opportunity for individuals in African-American communities. Read more here...
Story #1: When Martin and Michelle Flores moved from Guanajuato, Mexico to Elgin five years ago, they dreamed of setting down roots and creating a home for their young son, Matthew. The Neighborhood Stabilization Program (NSP), which rehabilitates foreclosed...
The report, Paying More for the American Dream V: The Persistence and Evolution of the Dual Mortgage Market, examines changes in conventional refinance lending between 2008 and 2009 in seven metropolitan areas: Boston, Charlotte, Chicago, Cleveland, Los Angeles, New...
It also compares 2009 loan denial rates across neighborhoods. In all seven cities analyzed, lenders denied loan applications at significantly higher rates in communities of color than in predominantly white neighborhoods. The report concludes with policy recommendations to improve...
The analysis also found: In the first quarter of 2011, Cook County experienced a 7.2 percent increase in foreclosure filings compared to the first quarter of 2010. • Increases were observed in all areas of Suburban Cook, ranging...
Woodstock Institute coordinated meetings for 18 Illinois constituents, including several housing counselors, with 15 U.S. House and Senate members and/or their staff. Although only one of the staff with whom we met voiced support for the housing counseling cuts,...
Bad news was brewing as Illinois NCRC members flew in to DC on Wednesday morning. Details of the final FY 2011 budget compromise were made public in the form of H.R. 1473, and advocates noticed a scary line item:...
The concerns about moral hazard are twofold: there’s an economic concern, where moral hazard would trigger a wave of countless dollars lost to forgiven principal; and an ethical issue, where critics believe that principal writedowns would violate the spirit...
Dying Industries – An analysis examining ten U.S. industries that are in states of significant decline. I’m starting to worry that my dream of opening Geoff’s Video and Tuxedo Rental Warehouse might be ill conceived.—Geoff Smith, Senior Vice President...
HB1810 levies a $500 “Mortgage Foreclosure Prevention Fee” on purchasers of foreclosed homes. The fee would create a new fund to pay for foreclosure mitigation activities, like housing counseling, legal services, and administering foreclosure mediation programs in the courts....